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Joe Biden Expected To Decide On Potential Presidential Run In Coming Weeks

Vice president Joe Biden is expected to announce in October whether or not he will join the 2016 presidential race.

Sources who have spoken to Biden say that he is likely to make his decision within seven to 10 days and that he is leaning towards running, CBS News reports.

If the vice president does decide to run, it is unlikely that he will be joining his potential competitors at the first Democratic presidential debate being held in Las Vegas on Oct. 13. Two sources told CBS that a Biden campaign would need time to raise funds and establish itself before he could step into the ring.

Several states have ballot deadlines in November, so Biden would have to begin his campaign in October in order to raise enough money to meet requirements in New Hampshire, Texas and Florida.

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Biden has support within the Democratic party and could prove to be a huge threat to presidential candidate and former Secretary of State Hillary Clinton if he decides to run.

A letter pledging support for Biden was signed by almost 50 prominent party fundraisers in September.

"America needs a leader who is respected both home and abroad and who understands the real challenges facing American families," the letter reads. "In our opinion, the next president must be Joe Biden. If he announces he’s running, we’re all in. It’s a campaign we know he will win.”

Biden even has the support of President Barack Obama, according to CNN. During a private meeting between the two leaders in August, Obama allegedly gave Biden his blessing.

The greatest concern for the vice president is his family, CBS reports. If he chooses not to run, it will be to spare his family the emotional stress. Biden’s son, former Delaware attorney general Beau Biden, passed away in May after battling brain cancer. Beau did, however, reportedly encourage his father ro run for president before he died.

Though Biden will have ground to cover if he decides to run, an organization named Draft Biden has already “formed the logistical support to immediately back a campaign once a decision is made,” according to a statement obtained by CBS.

During an appearance at the Human Rights Campaign National Dinner on Oct. 3, the vice president downplayed his own 2016 ambitions, NBC reports. He did, however, take aim at the Republican candidates.

“The American people are already with you," Biden told supporters of LGBT equality. "There are homophobes left — most of them are running for president, I think."

According to a Bloomberg poll released in September, Biden has 25 percent support amongst Democratic voters, edging out Vermont Sen. Bernie Sanders’ 24 percent, but still behind Clinton, who leads with 33 percent.